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👉 The Investing Week Ahead: 9/11/23
22 years have passed since "a perfect blue sky morning turned into the blackest of nights..."
Welcome to your new week.
Today, we honor the direct and indirect victims of 9/11 — which took place exactly 22 years ago.
9/11 means something different to everyone — we encourage you to set aside some time for reflection and thankfulness toward all of those that helped save lives that day.
To any of our readers who find this day to be especially difficult due to personal connections with victims — we wish you peace today and know that the Rate of Return team has you in mind.
Key Earnings Announcements:
Oracle and Adobe are in focus.
Monday (9/11): Bowlero, Casey’s, FuelCell Energy, Mission Produce, Oracle, SkillSoft
Tuesday (9/12): Cognyte, Edgio, Evolution Petroleum, Farmer Brothers, InnovAge, Mama’s Creations
Wednesday (9/13): Burfurd, Cracker Barrel, Ibex, Iris Energy, REV Group, SemTech
Thursday (9/14): Adobe, Copart, Lennar, Mitek Systems, RF Industries
Friday (9/15): N/A
What We’re Watching:
Analysts expect Oracle to post strong Q1 results, largely supported by demand for its cloud offerings.
Barclays sees “a multi-year opportunity for solid growth at high margins driven by an ongoing positive mix effect of better [software-as-a-service and Oracle Cloud Infrastructure] outweighing the lower growth parts of the business.”
Analysts expect $1.15 EPS on Revenue of $12.4 billion.
You can explore the most recent ORCL investor release here.
Analysts believe that web traffic and net new digital media ARR justify bullish sentiment toward Adobe.
Mizuho “believes Adobe is well-positioned to capitalize on digital transformation with its highly comprehensive end-to-end offering. Furthermore, the firm sees signs of improving fundamentals across Digital Media and Digital Experience, along with growing confidence in GenAI as a significant growth driver.”
Analysts expect $3.98 EPS on Revenue of $4.9 billion.
You can explore the most recent ADBE investor release here.
Investor Events / Global Affairs:
Salesforce’s big event and oil considerations.
Salesforce (CRM) is gearing up for its 2023 Dreamforce conference, positioning it as the "AI event of the year" amidst a surge in AI-focused conferences.
The company's shift towards AI comes after a turbulent start to the year, including layoffs. CEO Marc Benioff has been vocal about their ambition to lead in generative AI, with a focus on becoming the top AI-powered CRM.
The conference will feature prominent figures like OpenAI's Sam Altman, showcasing Salesforce's AI plans. They've also made substantial AI investments, launching a $250 million generative AI fund and an AI Cloud product suite, aiming to leverage partners and emulate AWS's successful approach to AI innovation.
A few days ago, oil prices reached a 10-month high — and the Strategic Petroleum Reserve (SPR) hit a 40-year low.
Fueling the increase in prices — Saudi Arabia and Russia extended voluntary supply cuts through the end of the year, raising concerns about winter demand.
Brent crude settled above $90 per barrel for the first time since November 2022, while U.S. WTI crude also closed at a 10-month high. The unexpected three-month extension of supply cuts indicates a priority on higher oil prices over volume for Saudi Arabia.
This decision significantly tightens the global oil market and is likely to lead to higher oil prices worldwide. Goldman Sachs' lowered probability of a U.S. recession and the Saudi supply cuts have boosted oil demand and prices, with both Brent and WTI futures increasing by over 20% since June.
Major Economic Events:
Some of the most important metrics for the Fed’s decision-making — Inflation for Consumers, Inflation for Producers, and Retail Sales.
Monday (9/11): N/A
Tuesday (9/12): N/A
Wednesday (9/13): Consumer Price Index (CPI)
Thursday (9/14): Business Inventories, Producer Price Index (PPI), Retail Sales
Friday (9/15): Capacity Utilization, Consumer Sentiment, Empire State Manufacturing Survey, Import Prices, Industrial Production
What We’re Watching:
Inflation for Consumers (CPI)
Core CPI Data:
Last Core CPI (MoM) — +0.2%
Last Core CPI (YoY) — +4.7%
Projected Core CPI (MoM) — +0.5%
Projected Core CPI (YoY) — +4.4%
Headline CPI Data:
Last Headline CPI (MoM) — +0.2%
Last Headline CPI (YoY) — +3.2%
Projected Headline CPI (MoM) — +0.6%
Projected Headline CPI (YoY) — +3.6%
Inflation for Producers (PPI)
Core PPI Data:
Last Core PPI (MoM) — +0.3%
Last Core PPI (YoY) — +2.4%
Projected Core PPI (MoM) — +0.2%
Projected Core PPI (YoY) — +2.2%
Headline PPI Data:
Last Headline PPI (MoM) — +0.3%
Last Headline PPI (YoY) — +0.8%
Projected Headline PPI (MoM) — +0.4%
Projected Headline PPI (YoY) — +1.2%
Which stocks moved the most last week.
Our friends at LevelFields scrub through thousands of data points each week to determine how events impact stock prices.
UiPath has been ripping, and we wouldn’t have realized it without LevelFields. Drop your email at the bottom of this website to get their free newsletter!
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Disclaimer: This is not financial advice or recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.